KILLI RESOURCES LIMITED — Capital/Financing Update 2024

Nov 26, 2024

WEST TANAMI PROJECT ASX ANNOUNCEMENT ASX | KLI

27 November 2024

Gold Fields commences Earn-in with geophysical survey at West Tanami Project, Western Australia

• Field work commences at the West Tanami Gold Project.

• Gold Fields has begun a 1,600km[2] airborne gravity survey over the tenement package, to complete the foundational datasets for the Project as they explore for a new large-scale gold system.

• Killi entered into an Option and Joint Venture Agreement with G Ex Australia Pty Ltd, a wholly owned subsidiary of Gold Fields at the West Tanami Project in May this year.

• Gold Fields can earn up to an 85% interest in the Project by spending $13 million on exploration activities over 2 stages.

• The airborne survey commencing is a first step towards Gold Fields earning a significant stake in the Project.

Killi Resources Limited (‘ Killi ’ or the ‘ Company ’) (ASX: KLI) is pleased to advise its Joint Venture partner at the West Tanami Project in the Kimberley region of Western Australia, Gold Fields Limited (‘ Gold Fields ’) (JSE: GFI) has commenced an airborne gravity survey, as a first step to earning a significant stake in the Project.

The Agreement was entered into in May 2024, with Gold Fields taking over the operation and management of the Project, for the duration of the agreement.

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The West Tanami Project

The Project covers 1,600km[2] of the Tanami Geological Belt, and 100kms strike of the main gold mineralising structures and is located 120kms along strike from the 14-million-ounce Callie Gold Mine. The Tanami Geological Province is cut in half by the Western Australian and Northern Territory border, with 19 million gold ounces attributed on Northern Territory ground, and only 700,000 oz in Western Australia.

This Joint Venture arrangement between Killi and Gold Fields ensures the Project will be adequately and systematically explored in the coming years leveraging the Project to the current market gold price.

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Figure 1. Location of the West Tanami Project; Regional setting and gold deposits within the Tanami Belt.

Authorised for release by the Board of Killi Resources Limited.

Enquires

Kathryn Cutler Chief Executive Officer admin@killi.com.au

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About Killi Resources Limited

Killi Resources Limited (ASX: KLI) is a gold and copper explorer with assets in Western Australia and Queensland, Figure 2.

The Company is focussed on exploring and finding a new major mineral discovery. The projects are belt-scale land holdings, located in well-endowed mineral provinces, that are significantly underexplored and amenable to a new large-scale discovery.

The Company has entered into an Option and Joint Venture with G Ex Australia Pty Ltd, a wholly owned subsidiary of Gold Fields Limited at its West Tanami Project in the Tanami, where Gold Fields can earn up to 85% of the Gold Project.

The Company also retains copper rights to the Balfour Project in the Pilbara of Western Australia, where the project was originally pegged for its copper prospectively. In early 2024 the Company completed the same of the project to Black Canyon (ASX: BCA), where Killi received $500,000 worth of Black Canyon shares for the deal.

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Figure 2. Location of Killi Resources Limited gold and copper projects in Australia.

The Company owns 100% of the Mt Rawdon West Project located inland from Bundaberg in Queensland. The project consists of one granted 305km[2] tenement. The land holding covers the intersection of the highly prospective Mt Rawdon gold corridor with the Mt Perry copper-gold corridor, within the Mt Perry region, Figure 3. The Mt Rawdon gold mine is only 8km from Killi’s tenement boundary. The Mt Rawdon Gold Mine has produced 1.8 million ounces of gold to date, consistently producing 75,000 - 80,000oz annually.

The controlling mineral structures from Mt Rawdon and Mt Perry deposits intersect in the centre of Killi tenure, at the Wonbah and Baloo prospects, and the Company is actively exploring the project for Porphyry Copper/Gold Systems.

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Figure 3. Location of the Mt Rawdon West Project 70 kilometres inland from Bundaberg, land holding of 309km[2] .

The Company also owns 100% of the Ravenswood North Project located near Charters Towers in Queensland. The project consists of six granted tenements, totalling ~660km[2] . The majority of the land holding covers the prospective Ravenswood-Charters Towers gold corridor, host to Ravenswood Gold Mine (~9Moz Au system), Charters Towers (~14Moz Au Resource), Mt Leyshon (3.8Moz Au produced), Mt Wright, Mt Success and Piccadilly all within 60kms of the project, Figure 4.

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Figure 4. Location of the Ravenswood North Project in relation to existing gold mines of the Charters Towers area.

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KILLI Resources Limited | ASX Announcement | www.killi.com.au | ASX:KLI